The gaming sector welcomes a "small spring," and Bitget takes the lead in setting up a GameFi section

Author: Martin Talk

With the overall recovery of the cryptocurrency market and the triggering of rotational trends, more funds and traffic are beginning to flow into the GameFi sector. Since last week, several tracks within the GameFi ecosystem have performed exceptionally well, including game public chain projects, GameFi platforms, and game projects, all achieving considerable results. Some new GameFi projects are particularly impressive, such as Shrapnel (SHRAP), which launched on Bitget on November 8 at an initial price of $0.03 and is now priced at $0.19, representing an increase of over 533% since its launch, making it the best-performing GameFi project recently. As more players and investors join, the GameFi ecosystem will welcome broader development opportunities.

New Moves from Established Game Public Chains

In the realm of game public chain projects, several public chains have shown good performance in both total locked value and the price of their native tokens. Immutable X, which was favored by Tencent's strategic investment, saw its native token price rise from $0.6 to $1.12 within a week after announcing a partnership with Ubisoft, with a 7-day increase of over 80%. According to L2BEAT data, Immutable X's TVL also surpassed $200 million last week, with a 7-day increase of 40.71%.

The blockchain game Axie Infinity's sidechain, Ronin Network, has also made new moves. On October 31, the P2E blockchain game Pixels announced its launch on Ronin Network, while also opening the minting of Pixels Pets (NFTs with instant game utility) on Ronin Chain, and will be launching the PIXEL token. As a result of this positive news, the native token RON of Ronin saw an increase of over 24% in a week.

These public chain projects provide a solid foundation for the development of the GameFi ecosystem by offering efficient and low-cost transaction and smart contract functionalities.

GameFi Platforms Begin to Gain Momentum

In addition to game public chain projects, various GameFi platform tokens have also started to gain momentum. Gala Games (GALA), as a leading global GameFi platform, has not only achieved breakthrough growth in user scale but has also launched a series of innovative games and NFT products. SuperVerse (SUPER) is a GameFi cross-chain protocol aimed at facilitating new NFT issuance, providing players with true ownership and value by converting game assets into NFTs.

With the arrival of this mini bull market, these platform tokens have seen varying degrees of increase. According to data from the Bitget trading platform, the GALA token has recently increased by over 40%, while the SUPER token has seen a monthly increase of over 300%, which is quite impressive.

Promising Game Projects Experience Value Rebound

Various game projects such as Axie, STEPN, and Star Atlas have also seen astonishing token increases. Axie Infinity (AXS), as a veteran star project in the GameFi field, has attracted a large number of players and investors due to its unique gameplay and sustainable economic model. STEPN (GMT) and Star Atlas (ATLAS) have introduced new game modes, integrating elements of cryptocurrency and NFTs to provide players with a fresh gaming experience. According to the latest data from the Bitget platform, the AXS token price has increased by 20% in a month, while the monthly increases for GMT and ATLAS tokens are 54% and 132%, respectively.

Additionally, some emerging GameFi projects are also showing potential. As one of the earliest supporters of the GameFi sector and the launch of a GameFi trading area, Bitget has seen multiple blockchain game projects recently increase by over 100%, such as the play-to-earn platform Nakamoto Games (NAKA) and the multi-play strategy game (MetaTrace) TRC, with token prices rising by 125% and 110% respectively since their launch, along with the aforementioned SHRAP, which has surpassed a 533% increase in less than two weeks since its launch. Currently, Bitget's GameFi section supports the trading of 66 types of blockchain game project tokens, covering game public chain projects, GameFi platforms, and various innovative game projects.

Conclusion

Web3 games and GameFi have long been considered the next frontier in the cryptocurrency industry. The traditional gaming industry has a massive user base, while crypto games can transform virtual assets from traditional games into truly valuable digital assets through the introduction of blockchain and cryptocurrency technologies, potentially becoming the entry point for a billion users in the crypto industry.

With the recovery of the cryptocurrency market, the continuous improvement of industry infrastructure, and the ongoing implementation of various innovative projects, more and more phenomenal projects will emerge from the gaming sector, and the entire GameFi sector will experience explosive growth. This not only stimulates participation from traditional players but also provides players with more opportunities for profit.